Streetbeat News

FOSUF

Fosun International Ltd.

http://www.fosun.com

CEO

Xinjun Liang

Industry

Offices of Bank Holding Companies

Open

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Fosun International Ltd. (OTC:FOSUF) is transitioning to an 'asset-light' strategy, having reduced its debt through significant asset sales, including a recent sale of a stake in Belgian insurer Ageas to BNP Paribas. The company's debt-to-capitalization ratio improved to 50.4%, with a total of 57.3 billion yuan raised from asset sales over two years. Fosun's shift from acquisition to divestiture reflects a strategic pivot towards stabilizing its financials and focusing on core businesses, with its outlook upgraded to 'stable' by S&P Global in mid-2023.

Portfolio Pulse from The Bamboo Works

April 23, 2024 | 6:52 pm

Fosun Tourism Group (FSNGF) is facing a post-Covid downturn with its shares trading near all-time lows, despite a slight increase in business volume at its Atlantis Sanya resort and Club Med chain. Reports earlier this year suggested that its parent company, Fosun International (FOSUF), might sell major assets to alleviate debt, casting uncertainty on FSNGF's future. Meanwhile, Trip.com (TCOM) has seen a 40% stock increase this year, outperforming FSNGF despite the latter's business volume rising nearly 50% from pre-pandemic levels.

Portfolio Pulse from The Bamboo Works

April 23, 2024 | 1:46 pm

China International Marine Containers (CIMC) reported worse-than-expected H1 2023 earnings due to macroeconomic pressures, with revenue down 16% YoY. However, its EV subsidiary, CIMC Vehicles, saw a 20% increase in revenue. The overall poor performance of CIMC impacted its stock, while the success of CIMC Vehicles boosted its shares. Other exporter-related shares and energy-efficient vehicle stocks showed mixed results.

Portfolio Pulse from Daniel Harrison

October 05, 2023 | 4:18 pm

Hong Kong shares fell due to fears of a challenging climate for Chinese exporters and property market issues. Chinese exports fell 8.8% YoY in August, with shipments to the US down 9.5%. Shares of Fosun International, Sinopec Shanghai Petrochemical, PetroChina, Alibaba, and CMOC Group were down 1-2%. EV makers BYD, Li Auto, and NIO also saw declines. Real estate sales from China's top 100 developers were down 29.9% YoY in September. China SCE Group defaulted on $1.8 billion of offshore bonds, and China Evergrande Group's shares plunged 12%.

Portfolio Pulse from Daniel Harrison

October 04, 2023 | 8:13 pm

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